Elm Street Commons Acquisition & Stabilization Of Existing Affordable Housing Development

The Anaheim Housing Authority has issued Request for Proposals DEV-2026-RFP-002 for the acquisition and stabilization of Elm Street Commons, a 52-unit affordable housing development located at 111–125 West Elm Street in Anaheim, California. The agency is seeking a qualified developer to acquire the property through a long-term ground lease and assume full responsibility for its operations, maintenance, and long-term stewardship. The project is restricted to households earning 30% to 60% of the Area Median Income, and the selected developer must ensure the property remains affordable for at least 55 years under a modernized covenant structure aligned with TCAC rent limits. The selection process is based on a weighted evaluation focusing on relevant experience (30%), financing capacity and approach (30%), long-term stewardship (30%), and team capacity (10%). Developers must address existing debt positions, including an Authority Loan of over 11 million dollars, a senior loan of approximately 2.88 million dollars, and a subordinate loan of approximately 3.39 million dollars, while also proposing a budget for capital needs and the Removal Action Workplan. Proposals must be submitted as a single PDF via the OpenGov portal by October 30, 2026. The successful developer will be required to comply with all fair housing laws and accessibility standards, including the Americans with Disabilities Act and the Unruh Civil Rights Act.